Sunnova Energy International Inc.: debt financing — Sunnova files Chapter 11, secures $90M DIP financing, stalking horse asset sale

Sunnova Energy International Inc.

Filed Chapter 11 petitions on June 8, 2025 in Southern District of Texas; operates as debtor-in-possession.
Entered $90M superpriority senior secured DIP credit facility; 12% PIK interest, matures Sept 22, 2025.
Executed Asset Purchase Agreement with Solaris Assets as stalking horse bidder for $10M cash plus credit bid of DIP obligations.
Bankruptcy Court approved TEPH Credit Agreement, TEPH Asset Purchase Agreement (June 11) and Solar Power System Purchase Agreement (June 12).
Sale subject to higher bids in court-supervised auction; company may exit through plan of reorganization.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Sunnova Energy International Inc. incurred credit facility of $90 million with Alter Domus (US) LLC, as administrative agent at 12.00% maturing September 22, 2025.

Instrument: credit facility
Principal: $90 million
Counterparty: Alter Domus (US) LLC, as administrative agent
Rate: 12.00%
Maturity: September 22, 2025
Event: incurrence

Exact text from the filing

DIP Credit Agreement, the DIP Lenders have agreed, upon the terms and conditions set forth therein, to make available to the DIP Borrower loans (the “DIP Loans”) pursuant to a $90 million senior secured debtor-in-possession term loan credit facility (the “DIP Facility”), which shall consist of: a) $15 million of DIP Loans which shall be funded upon entry of the

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Source: SEC EDGAR

accession 0001772695-25-000112

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